Spectrum Brands - Formerly Rayovac Corporation - Begins Trading Today on NYSE As ''SPC''
New Corporate Name Reflects Diversity of Consumer Product Brand Portfolio
ATLANTA--(BUSINESS WIRE)--May 2, 2005--(NYSE: SPC) Spectrum Brands, Inc., formerly known as Rayovac Corporation, a global consumer products company with a diverse portfolio of world-class brands, announced that it has officially assumed its new corporate name and will begin using the new trading symbol "SPC" effective today. Spectrum Brands Chairman and Chief Executive Officer Dave Jones and other senior management members were on hand at the New York Stock Exchange to celebrate the occasion with the ringing of the opening bell.
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Jones emphasized that the company's branded products will continue to be marketed to retailers and consumers under their current names, including Rayovac and Varta batteries and lighting products, Remington electric shaving, grooming and personal care products, and the variety of brands recently added to the Spectrum Brands family through its acquisition of United Industries, including Spectracide, Vigoro, Sta-Green, Schultz and C.I.L. in the lawn and garden market, Hot-Shot, Cutter and Repel in the household insect control market, and Tetra, Marineland, and Eight in One in the specialty pet supplies market.
The corporate name change was approved at the company's annual meeting of shareholders on April 27. Rayovac shareholders are not required to take any further action with respect to the name change.
About Spectrum Brands, Inc.
Spectrum Brands (formerly Rayovac Corporation) is a global consumer products company and a leading supplier of batteries, lawn and garden care products, specialty pet supplies, shaving and grooming products, household insecticides, personal care products and portable lighting. Through a diverse and growing portfolio of world-class brands, the company holds leading market positions in a number of consumer product categories. Spectrum Brands' products are sold by the world's top 20 retailers and are available in over one million stores in 120 countries around the world. Headquartered in Atlanta, Georgia, Spectrum Brands generates approximately $2.8 billion in annual revenues and has approximately 10,000 employees worldwide. The company's stock trades on the New York Stock Exchange under the symbol SPC.
Forward Looking Statements
Certain matters discussed in this news release, with the exception of historical matters, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks, uncertainties and other factors that could cause results to differ materially from those anticipated as of the date of this release. Actual results may differ materially from these statements as a result of (1) our ability to achieve anticipated synergies and efficiencies as a result of this transaction, (2) changes in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (3) changes in consumer demand for the various types of products Spectrum Brands offers, (4) changes in the general economic conditions where Spectrum Brands does business, such as stock market prices, interest rates, currency exchange rates, inflation and raw material costs, (5) our ability to successfully implement manufacturing, distribution and other cost efficiencies and (6) various other factors, including those discussed herein and those set forth in Spectrum Brands' securities filings, including their most recently filed Forms 10Q and Annual Reports on Form 10-K.
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Contact:
Spectrum Brands, Atlanta
Investor Contact
Nancy O'Donnell, 770-829-6208
or
Ketchum for Spectrum Brands
Media Contact
David Doolittle, 404-879-9266
david.doolittle@ketchum.com
Source: Spectrum Brands, Inc.